A little-known hedge fund caused widespread chaos on Wall Street

The names of the key players are different, but the lessons similar. The spectacular implosion of hedge fund Archegos Capital Management, much like the GameStop saga earlier this year, serves as a reminder of the dangers posed by extreme leverage, secret derivatives and rock-bottom interest rates.

News: What you need to know about the markets     A little-known hedge fund caused widespread chaos on Wall Street The names of the key players are different, but the lessons similar. The spectacular implosion of hedge fund Archegos Capital Management, much like the GameStop saga earlier this year, serves as a reminder of the dangers posed by extreme leverage, secret derivatives and rock-bottom interest rates. Read more »   Oil prices dip after ship stuck in Suez Canal is partially freed Oil prices are falling after the Ever Given container ship was partially pried free in the Suez Canal, giving rise to hopes that a crucial lane of global trade can soon reopen. Read more »   Rental car shortage is a boon for Turo, the Airbnb of cars Rental car companies have been slashing their fleets during the pandemic, but now that travel is picking up again supply is tight and prices are sky-high. That's a great opportunity for Turo, a sort of Airbnb for car rentals — which has been growing rapidly as more car owners use its app to rent out their vehicles. Read more »   There are 'definitely merits' to reparations, says the first Black Fed president Raphael Bostic, president of the Federal Reserve Bank of Atlanta, is one of the most prominent government officials yet to publicly express support for reparations as a way to address the consequences of racism and inequality in America. Read more »   Airbnb and Vrbo are overloaded with reservations After a year of being cooped up at home during the Covid-19 pandemic, many Americans are taking a cue from 2021 Rock and Roll Hall of Fame induction nominee The Go-Go's. Read more »   Swizz Beatz and Timbaland bring Verzuz to Peloton Peloton and Verzuz, two success stories of the pandemic economy, are joining forces in a deal they hope will add to their growing fortunes. Read more »

Dow Nasdaq S&P +98.49   -79.08   -3.45 33,171.37   13,059.65   3,971.09 +0.30%   -0.60%   -0.09% YTD +8.38%   YTD +1.33%   YTD +5.72%

Biggest Winners CenterPoint Energy Inc +3.10%   Carrier Global Corp +3.04%   Molson Coors Beverage Co +3.00%   Twitter Inc +2.74% Biggest Losers Tapestry Inc -5.53%   HanesBrands Inc -4.14%   Generac Holdings Inc -4.08%   Under Armour Inc -4.03%

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Key Market Stats Latest Today's Change Oil $61.61 +0.05 / +0.08% Gold $1,710.10 -2.10 / -0.12% 10-yr 1.72% +0.06 Euro $1.18 -0.00 / -0.19%

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